DO I HAVE WHAT IT TAKES TO START MY OWN BUSINESS/BE AN ENTREPRENEUR?
So you want to be an entrepreneur? You’re not alone! Consider these statistics:
- 55% of all Americans want to be their own boss.
- 37% of all households are involved in small business.
- 70% of all high school students want to start a business.
- 1 out of every 25 adults is currently starting a business.
- 5 million people started a business in 1995.
- In 2017, there were 38 million home-based businesses.
Entrepreneurs have a different way of looking at life:
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DO I HAVE WHAT IT TAKES TO BE A FRANCHISEE? Once you have determined that you have the abilities, skills and desire to start your own business, you have to further determine if you have the requisite traits to become a franchisee.
- Can you follow someone else’s rules, even when you think you have a better way?
- Are you prepared to accept coaching and advice on how to run your business from a franchisor’s field and headquarters’ staff?
- If the Franchisor turns down your great idea for changing the system, can you live with that?
- Can you trust that a franchisor is working for the benefit of the entire system-even when their decisions do not necessarily go your way?
- Are you willing, able and eager to learn new skills?
- Can you set aside old habits and beliefs to follow a franchise system?
CAN I AFFORD A FRANCHISE?
- How much do you have to invest?
- How much can you finance?
- How much do you need to live on?
- What is the total investment required for getting into the franchise?
- How much can you earn as a franchisee?
- How long will it take to breakeven?
- What return can you get on your investment?
- Can you get a better return from another investment?
- Are the risks equal?
- Are you willing to put your risk and trust in yourself?
